Magnite To Elevate Virgin Media's Ad-Supported Streaming Services
Portfolio Pulse from Lekha Gupta
Magnite Inc (NASDAQ:MGNI) has been chosen by Virgin Media as the preferred SSP to support their free ad-supported streaming television (FAST) channels. Virgin Media will use MGNI's Streaming SSP and ad-serving platform (SpringServe) to manage and monetize its FAST inventory on Virgin TV. This partnership reflects a shift in the TV industry towards ad-supported streaming. MGNI recently reported Q2 adjusted EPS of $0.09, beating the $0.03 estimate and sales of $152.50 million, exceeding the consensus of $134.28 million.
August 30, 2023 | 11:35 am
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Magnite Inc's partnership with Virgin Media to support their ad-supported streaming channels could potentially boost its revenues. The company recently reported better-than-expected Q2 results.
The partnership with Virgin Media could potentially increase Magnite's revenues as it provides a new source of income. The company's recent financial performance, which exceeded estimates, also indicates a positive trend.
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